The Quantitative Relationship Between Inputs and Outputs Is Called

question 11

Multiple Choice

The quantitative relationship between inputs and outputs is called

• A) consumer technology.
• B) labor-intensive technology.
• C) capital-intensive technology.
• D) production technology.

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Definitions:

Conversion Costs

The sum of direct labor and manufacturing overhead costs, representing the costs to convert raw materials into finished products.

Direct Materials

The raw materials that are directly traced and integrated into the final product and are a significant part of the manufacturing cost.

Weighted-Average Method

is an inventory costing method that assigns the average cost of goods available for sale to both ending inventory and cost of goods sold.

Conversion Costs

The sum of direct labor and manufacturing overhead costs, representing the costs incurred to convert raw materials into finished products.